Prices in the town I'm talking about are not HALF. Gas is more than half; labor more than half, land more than half. Electricity, groceries, McDonalds, a movie, new set of tires, lumber, concrete... ALL way more than half.

What's way less than half back there is gubbamint meddling, conservation easements, high percentage of land federally owned/controlled, etc That's why my family owns dozens and dozens of rentals there and NONE here...Gee, I wonder why there's a housing shortage out here in Rulesandregulationville...?

Actually, since there are 2 and 3 bedroom units the forever votes might number as high as a couple hundred, plus however-many those couple hundred breed into this dependence culture. The final number could be in the tens of thousands...

Oh, yes. A few of these folks will excel, spread their wings and fly. And they'll say "...it helped me." and they'll be held up as the example of what a successful project this was.

Why not just give every one of these families $238,000 and let them enter the real marketplace?? Well, to Pat's accurate point, that does not empower government and it's cronies, does it?

The people getting the service (lawn mowed, snow plowed, house painted, construction, etc) would be forced to pay up and the higher wage could and would be applied to housing at its market price.

Instead, things like this are introduced into the "ecosystem" and foul the entire machine.

The reason they are embraced is 1) ignorance of economics 2) it's the easy and expedient way out of some immediate uncomfortable state (we are now sufficiently brainwashed to believe discomfort must be avoided rather than overcome) and 3) it allows some politician to act as someone's "savior" and to show us all how much they "care".

I get your point, Pat. And I agree that this deal is perhaps the sweetest for the folks doing the development.

But your synopsis about home prices being out of reach, subsidized housing not effecting your property values, and how people will move on once they realize housing costs money, all that is incorrect.

If people move on when they see expensive housing then there wouldn't be any one to fill this new development.

What will happen is: 1) the drug dealers (gubbamint subsidized builders) will bring in a new batch of heroine (more rental housing), 2) more low-income people will fill them, 3) those people will then be on the street competing with YOU for work,, and they will have an advantage over you because they don't have to demand higher wages to make the house payment like you do, and 4) to keep under the radar, they will work for cash, effectively removing themselves from even the most minute role in paying their "fair share" of taxes into the scam (gubbamint) that assisted them. Meanwhile, you, with your "on the level" job will pay the taxes which enabled them to come in, crowd you out and drive down your wages forever.

I don't see anything "too funny" about it. In fact, it is sad that people applaud the advent of the device of their own slavery, but that is what some are doing here, and they haven't even the most basic economic literacy that would enable them to see it.. Cheers,

And which private builder is going to come in and compete with uncle scam? This activity puts private rental developers right out of business. If you're a guy with a couple duplexes and finally seeing your rent inch upward on the investment you were building for your kids college fund, this development is governments way of saying "screw you!!"

$11 Million??? For a 48 unit low-income apartment development??? Are you kidding me?? And another $400,000 from the city??? Unbelievable. That's $238,000 per unit!!!... for rental apartments!!!! I thought the US military's $2,000 toilet seat was ripping off taxpayers...

I have a 48 unit townhome project ready to break ground right now in VA. It's not "low income" but average middle-class rentals. They will be around 1,200 sf two bedroom units. My out the door price for the entire development will be under HALF of these, and not one thin dime will be taxpayers $$$. Maybe I should re-think that and get on this gravy train, eh??? Crazy

Then there's this very confusing statement: "With the economic recovery, people are getting priced out of the market." I thought an economic recovery meant people had MORE money and could buy MORE stuff.

The American people are so stoned it is no longer funny. Make housing cheap (affordable) and they cry "recession". Make it expensive due to an "economic recovery" and they say life's passing them by. They simply can't handle life without government fighting their battles for them